FTSE 100 Edges Higher On Rate Cut Hopes

RTTNews | 113 days ago
Stocktwits
FTSE 100 Edges Higher On Rate Cut Hopes

(RTTNews) - U.K. stocks were moving higher on Wednesday after Federal Reserve Chair Jerome Powell said that inflation has been improving in recent months and "more good data would strengthen" the case for interest-rate cuts.

The benchmark FTSE 100 was up 34 points, or 0.4 percent, at 8,174 after falling 0.7 percent on Tuesday.

Miners Antofagasta and Glencore dropped around half a percent each while energy stocks such as BP Plc and Shell edged up slightly.

Barratt Developments declined 2.2 percent. Citing high mortgage rates and broader economic concerns, the housebuilder said it is targeting to deliver fewer homes in the year ahead.

Construction materials firm Travis Perkins soared 5.7 percent after appointing a new chief executive.

Hostelworld Group, a social network powered Online Travel Agent focused on the hostelling category, plunged 5.4 percent despite reporting higher earnings in its first half and reiterating its fiscal 2024 adjusted EBITDA guidance.

Stocktwits
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European Shares Decline Ahead Of Inflation Data

European Shares Decline Ahead Of Inflation Data

European stocks were slightly lower on Thursday as investors assessed the latest batch of earnings and awaited the closely watched preliminary euro zone inflation reading for clues to the ECB's rate trajectory.
RTTNews | 4h 22min ago
Asian Shares Decline Following BoJ Decision

Asian Shares Decline Following BoJ Decision

Asian stocks ended broadly lower on Thursday as investors reacted to mixed earnings from U.S. technology companies and signals from the Bank of Japan that further rate rises were still on the horizon.
RTTNews | 4h 53min ago
Yen Rises After BoJ Keeps Key Rate Unchanged

Yen Rises After BoJ Keeps Key Rate Unchanged

The Japanese yen strengthened against other major currencies in the Asian session on Thursday, after the Bank of Japan left its key interest rate unchanged as widely expected on Thursday and retained a cautious approach as political instability and looming U.S. presidential election added concerns about economic outlook.
RTTNews | 5h 35min ago
Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the Asian session on Thursday.
RTTNews | 6h 6min ago
European Economic News Preview: Eurozone Inflation, Unemployment Data Due

European Economic News Preview: Eurozone Inflation, Unemployment Data Due

Inflation and unemployment from the euro area and retail sales from Germany are the top economic news due on Thursday. At 3.00 am ET, Destatis is scheduled to issue Germany's retail sales and import prices for September. Economists forecast retail sales to fall 0.7 percent on month in September.
RTTNews | 6h 31min ago
China Manufacturing Activity Expands For First Time In 6 Months

China Manufacturing Activity Expands For First Time In 6 Months

China's manufacturing activity expanded for the first time in six months in October, underpinned by strong domestic demand, official survey data revealed Thursday. The official manufacturing Purchasing Managers' Index rose to 50.1 in October from 49.8 in September, survey data from the National Bureau of Statistics showed. The score was seen unchanged at 49.8.
RTTNews | 6h 45min ago
Bank Of Japan Keeps Key Rate Unchanged

Bank Of Japan Keeps Key Rate Unchanged

The Bank of Japan left its key interest rate unchanged as widely expected on Thursday and retained a cautious approach as political instability and looming US presidential election added concerns about economic outlook. In a unanimous vote, the Policy Board decided to maintain the uncollateralized overnight call rate to remain at around 0.25 percent. This was the highest since late 2008.
RTTNews | 7h 23min ago
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